Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 10-46 variance analysis, material and labor pharou

10-46 Variance analysis, material and labor Pharout Company uses a standard cost system. Job 007...

70.2K

Verified Solution

Question

Accounting

10-46 Variance analysis, material and labor Pharout Company uses a standard cost system. Job 007 was for the manufacture of 1,000 units of the product X. The company's standards for one unit of product X are as follows: QUANTITY Direct material Direct labor 10 ounces 5 hours PRICE $5 per ounce $10 per hour The job required 9,800 ounces of raw material costing $58,800. A favorable labor rate variance of $2,250 and an unfavorable labor efficiency variance of $1,000 also were determined for this job. Required (a) Determine the direct material price variance for job 007 based on the actual quantity of materials used. (b) Determine the direct material quantity variance for job 007 based on the actual quantity of materials used. (c) Determine the actual quantity of direct labor hours used on job 007 based on the actual quantity of materials used. (d) Determine the actual labor costs incurred for job 007.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A sample size of 56 with x=62.2 and s=18.1 is used to estimate a population mean...

Statistics
Q

1.Why is planning and Forecasting a global workforce so difficult? 2.Why are so many countries bothered by their...

General Management
Q

Nautical Creations is one of the largest producers of miniature ships in a bottle. An especially...

Accounting
Q

The human microbiome can be described as a all microbes that cause disease b all...

Biology
Q

A card is drawn from a deck of playing cards What is the probability of...

Geometry
Q

An average school bus holds 45 people. Sketch a graph showing the relationship between the...

Basic Math
Q

19 M k A B 14 M 2 2 2 3 m a The graph...

Algebra
Q

Manzeck Company operates a snow-removal service. The company owns five trucks, each of which has...

Accounting
Q

Vaughn Company has gathered the following information: During the year, 3,040 units were produced, 10,900...

Accounting
Q

Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company...

Accounting
Q

Bonita Industries markets CDs of numerous performing artists. At the beginning of March, Bonita had...

Accounting
Q

A company must decide between scrapping or reworking units that do not pass inspection. The...

Accounting